Hot Shot Trucking Cost per Mile Calculator

Know your real cost per mile before you take a load. Enter your fixed monthly costs, miles, fuel and maintenance to get your cost per mile and the rate you need per loaded mile.

How the hot shot trucking cost per mile calculator works

Hot shot drivers often compare loads by the rate per mile, but the rate that matters is the one that covers all your miles, including the ones you drive empty. This hot shot trucking cost per mile calculator divides your costs by total miles, then raises the number to cover deadhead.

The example figures are placeholders. Use your real truck and trailer payments, insurance quotes, fuel and maintenance history.

For loads, IFTA miles and per diem in one workbook, see the owner-operator trucking tracker.

The formulas

Variable cost per mile = fuel price / mpg + maintenance per mile

Fixed cost per mile = fixed monthly costs / total miles

Rate per loaded mile = (variable cost x total miles + fixed costs + your pay) / loaded miles

Frequently asked questions

How do I calculate cost per mile in trucking?

Add your fixed monthly costs and variable costs, then divide by the miles you drive. This calculator splits the result into fuel, fixed and variable costs.

Why include deadhead miles?

You pay for empty miles too, so the loaded rate must cover them.

What rate per mile should a hot shot driver charge?

Use the rate needed per loaded mile as your minimum, then add what the market and the load justify.

Is this for owner-operators with a larger truck?

Yes, the same math works for any truck. Change the payments, mpg and miles.

Track loads, IFTA and per diem in Excel?

See the owner-operator trucking tracker Ask for a custom spreadsheet

More free tools: Owner-operator trucking tracker · All free calculators

Estimates only. Results depend on the numbers you enter and are not financial, tax or legal advice.